The yen declined against most major currencies in early Asian trading on Tuesday in response to Japanese Finance Minister Jun Azumi's warning that the government will act in the foreign exchange market when needed.
"If speculative moves become evident and market moves deviate from economic fundamentals, and speculators distort markets in their self interest, I'll take any steps if necessary in order to protect Japan's national interest," Azumi told reporters today.
"As I said back then (when Japan last intervened), I would not rule out any measures," he said.
Elsewhere, Japan's Finance Ministry said today morning that it and the Bank of Japan conducted yen-selling, dollar-buying operations for five straight days starting Oct. 31, when the Japanese currency appreciated to a record high against the dollar. On that day, the total value of foreign exchange intervention operations reached a record 8.07 trillion yen, the report said.
The yen slipped to an 11-day low of 121.37 against the pound and a 4-day low of 83.48 against the franc, compared to Monday's close of 121.14 and 83.35, respectively. The next downside target level for the yen is seen at 83.7 against the franc and 122.0 against the pound.
Against the euro, the yen declined to a 4-day low of 100.70. On the downside, 100.9 is seen as the next target level for the yen. At yesterday's close, the euro-yen pair was quoted at 100.54.
The yen dropped to as low as 76.75 against the US dollar and if the yen weakens further, it will break 76.8 and target the 77.3 level. The dollar-yen pair closed Monday's New York session at 76.56.
The yen edged down to a 4-day low of 64.06 against the New Zealand dollar, compared to Monday's close of 63.88. The next downside target level for the yen is seen at 64.2.
Looking ahead, Japan will release the preliminary results of its leading and coincident indexes for December at 12 am ET.
French trade data for December, Swiss foreign currency reserves data for January and the German industrial production for December are expected in the European session.
Canada's building permits for December is due in the New York morning session.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.